After Amazon’s announcement about owning supermarket chain, competitor’s stocks take a big hit!

As Wall Street Journal reported on Friday – Amazon is about to launch a supermarket brand with an attractive price point.

The huge e-commerce company is planning to open many stores in the U.S.

When the news came out, many stocks including Walmart, Kroger and Costco took a hit.

Amazon yet to comment on this report.

Amazon is interested in expanding in the next few years with new leases already signed for other stores locations. We still don’t know rather the store chain will be called Amazon markets, though the according to the reports, the chain will be separate from the Whole Foods brand. Amazon is reportedly in talks about opening multiple stores in main cities like San Francisco, Seattle, Chicago, Washington, D.C., and Philadelphia.

According to the report, the stores will be significantly smaller than a usual grocery store.

Amazon consider acquisitions in order to grow efficiently.

As we know, Amazon first move in the grocery industry was at the purchase of the Whole Foods chain.

We can see clearly that Amazon is trying to expands into the physical world after dominating the digital world for so many years.